March 9, 2009 (FinancialWire) -- Citizens Bancshares Corp. (OTCBB: CZBS) (Current Market Cap: US$9.12 Mil.) said that it has received a $7.462 million investment from the U.S. Department of the Treasury under the TARP Capital Purchase Program.

Under the CPP, Citizens Bancshares has issued 7,462 shares of a fixed rate cumulative perpetual preferred stock, series A, with a $1,000 per share liquidation value to the Treasury.

Atlanta-based Citizens Bancshares is the parent of Citizens Trust Bank, which has financial centers throughout metropolitan Atlanta and Columbus, Georgia, and in Birmingham and Eutaw, Alabama.

FinancialWire" ( http://www.financialwire.net ), an independent, proprietary news service of Investrend Communications, Inc., receives no compensation for its news or opinions. Further disclosure is at http://www.investrend.com/articles/secondlevel.asp?level=472 . To contact FinancialWire" write to inquiries@financialwire.net .

Free annual reports for companies mentioned in the news are accessible via http://investrend.ar.wilink.com/?level=279 .

Copyright(C)2009 by financialwire.net, Inc. All rights reserved.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.